Core Viewpoint - The mechanical industry in China is experiencing stable growth in the first half of 2025, with positive economic indicators and resilient foreign trade, and is expected to maintain this trend in the second half of the year with an annual growth rate of approximately 5.5% [1][8]. Economic Performance - Major economic indicators in the mechanical industry showed rapid growth in the first half of the year, laying a solid foundation for achieving annual targets [2]. - As of June 30, the number of large-scale enterprises in the mechanical industry reached 136,000, an increase of 6,000 year-on-year, accounting for 26.2% of the national industrial total, up 0.4 percentage points from the previous year [2]. - Total assets in the mechanical industry amounted to 40.4 trillion yuan, a year-on-year increase of 6.6%, representing 22% of the national industrial total, up 0.3 percentage points from the previous year [2]. - The added value of large-scale enterprises in the mechanical industry grew by 9% year-on-year, outperforming the national industrial and manufacturing growth rates by 2.6 and 2 percentage points, respectively [2]. Sector Performance - The automotive and electrical machinery sectors led the growth, with year-on-year increases of 11.3% and 12.2%, respectively [2]. - In the automotive sector, production and sales reached 15.621 million and 15.653 million units, reflecting year-on-year growth of 12.5% and 11.4% [3]. - The production of generators increased by 60.5%, while solar cell production rose by 18.2% in the electrical machinery sector [3]. Innovation and Development - The mechanical industry is accelerating technological innovation and green development, with new momentum and advantages continuing to grow [4]. - Strategic emerging industries within the mechanical sector achieved revenue and profit growth rates that exceeded the overall industry by 1.3 and 5.4 percentage points, respectively, accounting for 82.8% and 82.6% of the total [4]. - The new energy vehicle market saw significant growth, with production and sales reaching 6.968 million and 6.937 million units, up 41.4% and 40.3% year-on-year [4]. Foreign Trade - The mechanical industry completed a total import and export trade volume of $597.6 billion in the first half of the year, a year-on-year increase of 7.1% [5]. - Exports amounted to $465.94 billion, reflecting a year-on-year growth of 12.4%, while imports totaled $131.66 billion, down 8.2% [5]. - The trade surplus reached $334.28 billion, a year-on-year increase of 23.3%, accounting for 57.1% of the national trade surplus [5]. Challenges and Outlook - The mechanical industry faces a complex and challenging environment, with some difficulties and challenges still present, necessitating the consolidation of the recovery trend [6][7]. - A survey indicated that 66% of enterprises reported insufficient orders, with a trend of shrinking export orders [7]. - The Ministry of Industry and Information Technology is set to issue growth stabilization plans for the mechanical, automotive, and electrical equipment industries to enhance supply capabilities and optimize the industry environment [7]. - The expected reduction in tax incentives for new energy vehicles may stimulate consumer purchases in the latter half of the year [7].
机械工业半年报： 稳中向好态势延续 全年增速预计5.5%
Zhong Guo Zheng Quan Bao·2025-08-04 21:09